insolvent not illiquid

interesting. Thanks river

RS: I have found that most commentators are more circumspect in their language even though, reading between the lines, the message is the same. So I found Mr. Platt's commentary and language, very interesting. Here is Kyle Bass this week basically saying that a slow run on the banks has begun and there is no answer except for the EMU to break up:

http://video.cnbc.com/gallery/?video=3000061932

There are certainly going to be interesting times ahead.

Apt23, i had not seen that, but saw several interviews kyle Bass gave in the past month which were similar.
Europe is a mess. Greek GDP has collapsed along with its stock market. The European leaders have a plan, but the man on the street doesn't agree, so Democracy is being bypassed and technocrats are getting installed as leaders of Europe. Countries like Greece, Ireland, Portugal, etc can't support their debt, and pure austerity will kill their economy. The solution is simple.. countries must exit the Euro and depreciate their currency to gain a competitive advantage so they can gain exports or get more tourism dollars and pay back less debt vis-a-vis a weaker currency.

So far nothing has really been solved and much of what will happen has yet to, perhaps we'll see the other shoe drop in 2012.

There is no plan other than the Euro leaders' attempt to buy as much time as possible. As Bass has said for well over a year, the Germans are not going to bail out other nations. The banks are insolvent. There is no money, there is no plan. It is a death spiral. The financial markets will soon catch up with the timeline and Europe will implode. It is remarkable how many people are unaware of this plight and if they know about the Europe problem, they just assume it will be solved.

The solution is not simple, RS. When countries inevitably exit the euro, there will be a lot of pain.

Well, leaving the Euro is a simple solution. But it will create dislocations.
Unfortunately these half measures and delay are making things worse not better and future problems will grow.
We could see some violent revolutions in some of these Countries.

Cue the death knells. NB: Jurgen Stark's comments
http://www.cnbc.com/id/45694223